Home seller miffed after being haggled out of millions

million pound properties at Sandbanks waterfront Dorset

It would be fair to say that most people buy and sell property for a price they think is acceptable and finding out that the buyer of your property can well afford to pay more would not be a problem for most of us. Except, perhaps, if you’re faced with financial problems that force your hand to sell your property or sell it quickly.

However, being rich and finding out that one of the world’s wealthiest men has negotiated your asking price down by a small percentage was a problem for Leo Kryss, a Brazilian businessman and co-founder of a successful toy and electronics company.

The under half a square mile, man-made Miami island of Indian Creek  offers waterfront homes overlooking Biscayne Bay to an exclusive community of rich folk, among whom are Carl Icahn (investor), Tom Brady (sportsman), Elle McPherson (model), Julio Iglesias (singer), David Guetta (record producer) and Ivanka Trump (daughter), Jay-Z and Beyonce have sold up and moved on. The island is among the most expensive neighbourhoods in the US.

Mr Kryss’s former property is now among three on Indian Creek now owned by Jeff Bezos (worth $65, $79 and $90 million respectively).

The disgruntled home seller is suing the estate agency, Douglas Elliman, a brokerage firm that handled both sides of the transaction, on the grounds that he was persuaded to knock $6 million off the asking price without being told the identity of the buyer. The two listing agents deny having knowledge of the buyer’s identity.

The CEO of the firm allegedly told Mr Kryss that the buyer would pay no more than $79 million and denied that Mr Bezos was the buyer.

Mr Kryss now claims he “lost” $6 million on the sale of his mansion, and has stated in court documents that, had he known of Mr Bezos’s involvement, that knowledge would have been “highly material to his negotiations and his decision on the ultimate sales price”. His lawyers claimed that the estate agency had “failed to fulfil its duties to out client” and “knew or should have known who the ultimate beneficial purchaser was and misrepresented that very important fact to our client”.

Celebrities often attempt to conceal their identity when buying property in order to protect their privacy. Mr Bezos is the world’s second richest person, with a net worth of $204 billion – pipped at the post by Elon Musk. If you’re buying property, make sure you look after the pennies so the pounds look after themselves:

Ask an independent Chartered Surveyor for a Building Survey.

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